WASHINGTONPOST (Lauren Kaori Gurley, Rachel Lerman) - Here’s why wages are falling behind inflation, an economic warning sign
Inflation beat out wage growth again in August, which feels like 2023.
YOUTUBE (Fox Business) - BLOCKBUSTER REPORT: Trump makes BOLD demand after BLOWOUT jobs number
‘The Big Money Show’ breaks down the August jobs report after the U.S. economy added 162,000 jobs. Hal Lambert and Marcus Lemonis discuss the Fed's next moves. #foxbusiness #bigmoneyshow 0:00 - Strong Jobs Report Crushes Expectations 1:19 - Kevin Hassett: Economy Accelerating, Time to Cut Rates 3:35 - Panel Debates Whether the Fed Should Lower Interest Rates 7:30 - Consumer Spending, Wage Growth and the Health of the Economy 10:30 - Political Fight Over Inflation, Energy Prices and the Midterms
NYTIMES (Ben Casselman) - Worker Pay Isn’t Keeping Up With Inflation Once Again
When prices spiked in 2021-22, wages failed to keep up for many workers, new research shows. Now the pattern is repeating.
YOUTUBE (MS NOW) - How do Americans find relief with inflation rising? 'They don't,' economist says
The latest inflation report finds prices are rising higher while wage growth is not keeping up. Director of Economic Policy at Veda Partners Henrietta Treyz and University of Michigan Professor of Economics Justin Wolfer join Katy Tur to provide their expertise.
AI:Despite claims from the administration regarding inflation trends, recent data confirms that prices continue to climb while wage growth fails to keep pace with the rising cost of living. Economists indicate that Americans are finding little to no relief as purchasing power diminishes, a situation exacerbated by skyrocketing costs in essential sectors and a retail environment struggling under the weight of economic instability. As families face an affordability squeeze that delays milestones like homeownership and forces impossible choices between mortgage payments and basic necessities, the disconnect between official economic indicators and the lived reality of citizens continues to widen.Open
AXIOS (Courtenay Brown) - U.S. economy's K-shaped gap narrows
For years, America's economy has been defined by a "K-shaped" gap: The rich kept spending at a rapid pace, while everyone else struggled to keep up. - That divide is suddenly narrowing. Why it matters: Economists warned that consumer spending growth was increasingly reliant on wealthy Americans, leaving the economy vulnerable to a stock market downturn or any other wealth shock. - Importantly, the "K" appears to be closing from the bottom up, meaning that lower- and middle-income Americans are catching up, rather than affluent households pulling back. - That could put consumer spending on a more resilient footing. Zoom in: Bank of America is calling it the "great convergence." - The bank's data shows spending and wage growth among its…
THENATIONALPULSE (Pulse Wires) - Four Out of Five Cities With the Fastest Income Gains in America Are in Trump Country.
Four out of the five cities with the fastest rising incomes in America are in states that voted for President Donald J. Trump in 2024.
A new study has revealed that among the top five cities for rising median household income, four are in states that voted for President Donald J. Trump. PULSE POINTS WHAT HAPPENED: - DETAIL: According to a new study published on Thursday by SmartAsset, a personal finance site, the top five U.S. cities with the fastest rising incomes are in Nevada, California, and Florida. The top fives cities are Enterprise in Nevada, Anaheim in California, Henderson in Nevada, Tampa in Florida, and Port St. Lucie in Florida. Nevada and Florida voted for President Trump in 2024. Enterprise topped the survey. The city experienced an 18.3 percent increase in median household income in 2024. Anaheim experienced a 15.8 percent increase, Henderson…Open
AXIOS (Courtenay Brown) - The K-shaped economic divide might be narrowing
For years, the economy has looked K-shaped . There's new evidence that some of that divide is beginning to narrow. - The wage-growth gap between lower- and middle-income workers has disappeared — with pay gains among lower-income workers nearly matching those of their higher-income counterparts. - Spending growth among lower- and higher-income households is the most similar in years. Why it matters: A resilient labor market is chipping away at one dimension of the K-shaped economy, even as the wealth divide remains firmly intact. Source: Bank of America Institute By the numbers: Bank of America Institute, drawing on anonymized customer deposit account data, estimates that lower-income households saw after-tax wage growth accelerate…
AXIOS (Courtenay Brown) - Jobs report gives labor market a yellow card
The job market entered the summer with less momentum than looked to be the case just a month ago. Why it matters: Call it a yellow card for the labor market. Thursday morning's employment report doesn't undo three months of stronger hiring, but it does warn that the rebound is less durable than first thought. - Hiring has remained concentrated in a handful of industries, leaving fewer opportunities for Americans looking to switch jobs or reenter the workforce. What they're saying: "June's jobs report put a damper on the fireworks, coming in well below expectations and pointing to a labor market that's more fizzle than sparkle," Glassdoor chief economist Daniel Zhao wrote Thursday morning. Driving the news: Payrolls rose by 57,000 in June…
NYTIMES (Lydia DePillis) - U.S. Job Market Pushes Past Shocks and Strains
Unemployment is steady and companies are hiring, but wage growth is not keeping up with higher prices.
THENATIONALPULSE (Pulse Wires) - U.S. Economy Beats Expectations, Adding 172,000 New Jobs in May.
The U.S. economy added jobs for the third consecutive month in May, with notable growth in sectors like hospitality and healthcare, though inflation remains a pressing concern.PULSE POINTS WHAT HAPPENED: The U.S. labor market added 172,000 jobs in May, with 188,000 jobs added on average per month over the last three months, according to the […]
The U.S. economy added jobs for the third consecutive month in May, with notable growth in sectors like hospitality and healthcare, though inflation remains a pressing concern. PULSE POINTS WHAT HAPPENED: The U.S. labor market added 172,000 jobs in May, with 188,000 jobs added on average per month over the last three months, according to the Labor Department. Key sectors such as restaurants, bars, healthcare , and construction saw notable growth, although the financial sector cut 22,000 jobs. DETAIL: Restaurants and bars added 48,000 jobs in preparation for summer, while healthcare added 35,000 positions. Despite the job growth, wage increases remain modest, with average wages rising just 3.4 percent from a year ago, which likely lags…Open